The use of QR codes in payment environments has gained increased attention in the last few years as an alternative to near field communication (NFC) based payment technologies. Many large retailers have already implemented QR code payment environments.
Current QR solutions encode customer financial data and display the corresponding QR codes on the user's communication device to scan at a POS terminal. However, the QR codes can be copied by fraudsters and can be replayed at other POS terminals, thereby creating security risks.
It would be desirable to provide for a payment method that can utilize machine readable codes, while improving transaction security. Embodiments of the invention address this and other problems, individually and collectively.